Please give some informatin on this...

My status is (H1B valid till Jun 2009; LC, I-140 approved, waiting for PD Jul 2005 to be current for 485).

I want to open a company in USA (with onsite-offshore operations). Looks like LLC is preferable (but S-Corp is also one option).

Ques 1:
If I open a company and have a GC/US citizen operate it, how do I get the income from it? I can get income passed through to me (in an LLC) through checks, BUT what is the right/legal way?


Ques 2:
I read in many forums, that INS may question such income when working on the I-485; and IRS may question them too because I can earn income from only my authorized employer. (I don't know for sure if this LLC income would qualify for passive income).

Ques 3:
If I open an offshore company (me being one of the owner), then can the Indian company get payments in the company's bank account in India? (Without violating any law in US for my status)

Ques 4:
Does anybody know of any person who has done it smoothly? How to file taxes and what form do you give yourself (1099 etc? )

Quote:

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Originally Posted by findinfo

Please give some informatin on this...

My status is (H1B valid till Jun 2009; LC, I-140 approved, waiting for PD Jul 2005 to be current for 485).

I want to open a company in USA (with onsite-offshore operations). Looks like LLC is preferable (but S-Corp is also one option).

Ques 1:
If I open a company and have a GC/US citizen operate it, how do I get the income from it? I can get income passed through to me (in an LLC) through checks, BUT what is the right/legal way?


Ques 2:
I read in many forums, that INS may question such income when working on the I-485; and IRS may question them too because I can earn income from only my authorized employer. (I dont know for sure if this LLC income would qualify for passive income).

Ques 3:
If I open an offshore company (me being one of the owner), then can the Indian company get payments in the company's bank account in India? (Without violating any law in US for my status)

Ques 4:
Does anybody know of any person who has done it smoothly? How to file taxes and what form do you give yourself (1099 etc??)

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You can only own C-Class Corporation in US being the foreign national.

I have a very similar situation. My H1B is valid until Dec 2009 and I'm looking to establish a company to invoice services in the US and abroad.

Is there a legal way to create such a company and not infringe any of the INS rules so that my residency and green card processes are not affected at all?

Were you able to so this?